Anant Raj Reports 75% Increase in Net Profit for Q2 FY25
Anant Raj has announced a significant 75% increase in its net profit for the second quarter of the fiscal year 2025. The company also reported a 53.67% rise in its net consolidated total income. This robust growth is a testament to the company's strategic
Anant RajReal EstateProfit GrowthQipSheetij PropertiesReal Estate MumbaiOct 28, 2024
The net consolidated total income for the period stood at Rs 523.75 crore, marking a 53.67% growth from Rs 340.83 crore recorded in the same quarter last year. This significant financial performance underscores the company's robust operational strategies and market positioning.
Anant Raj's board of directors has also approved a qualified institutions placement (QIP) to issue equity shares or other convertible securities, for an aggregate consideration not exceeding Rs 2,000 crore. This move is aimed at strengthening the company’s financial base and supporting future growth initiatives.
Additionally, the board approved the issuance and allotment of fully convertible warrants. Each warrant carries the right for the holder to subscribe to one equity share of face value Rs 2 each, to the persons belonging to the promoter and promoter group on a preferential basis, aggregating up to Rs 100 crore.
In a strategic move, Anant Raj acquired 100% equity shares of Sheetij Properties, making it a wholly-owned subsidiary. This acquisition is expected to enhance the company's portfolio and market presence.
Anant Raj is a prominent player in the Indian real estate sector, known for its diversified portfolio that includes residential, commercial, and industrial properties. The company's commitment to quality and customer satisfaction has been a key driver of its success.
This strong financial performance in Q2 FY25 sets a positive tone for the rest of the fiscal year, and stakeholders are optimistic about the company's future prospects.
Frequently Asked Questions
What is the net profit of Anant Raj for Q2 FY25?
Anant Raj reported a net profit of Rs 105.65 crore for the quarter ending September 30, 2024, marking a 75% increase from Rs 60.37 crore in the corresponding quarter of the previous fiscal year.
What was the net consolidated total income of Anant Raj in Q2 FY25?
Anant Raj's net consolidated total income in Q2 FY25 was Rs 523.75 crore, a 53.67% increase from Rs 340.83 crore in the same quarter last year.
What strategic moves did Anant Raj's board approve in Q2 FY25?
Anant Raj's board approved a qualified institutions placement (QIP) for an aggregate consideration not exceeding Rs 2,000 crore and the issuance and allotment of fully convertible warrants up to Rs 100 crore. The company also acquired 100% equity shares of Sheetij Properties.
What is the significance of the acquisition of Sheetij Properties?
The acquisition of Sheetij Properties by Anant Raj is expected to enhance the company's portfolio and strengthen its market presence in the real estate sector.
What is Anant Raj's position in the Indian real estate market?
Anant Raj is a leading player in the Indian real estate sector, known for its diversified portfolio that includes residential, commercial, and industrial properties. The company is committed to quality and customer satisfaction, which has been a key driver of its success.
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